Basic Income Is a Dead End

We shouldn't be talking about a basic income until payroll taxes and income taxes have been eliminated for low to moderate income earners. In addition with federal interest rates at nearly 0% we could expect to be able to increase the federal deficit dramatically without impacting inflation other than an increase in interest rates.

As it is now, we are taxing middle class workers to subsidize our capital markets. A basic income is a great idea for a society in the distant future. However at the moment we have so much neglected infrastructure we could employ our entire economy for decades to come no matter what level of automation we reach.

Much frustrate reading this article.

"The most common reason cited for this conclusion is, of course, financing: though its costs have not been quantified, it is certain that they would be high. Just how income and wealth should be taxed to pay for it remains an open question."

The author whips this gem out in the third paragraph....questioning...something that the author had already answered.

"Instead of providing social benefits in an emergency, during unemployment, or in old age, the government would pay every adult the same lump sum ... This would be in place of all other entitlements, including unemployment benefits, and would most likely eliminate pensions as well."

He answered his own question that he poses in the third paragraph in the first paragraph...like wtf?

The rest of the article is fairly average attempts at predicting social outcomes as a result of macro economic policy.